Search results

A tenet that I’ve come to believe in day trading over the years is as follows: ‘trade entries that look the safest usually aren’t.’ Most day traders, besides getting trading confused with investing, tend to want to get in/out of things that are very high in liquidity. In my head, if...

First, I have no idea over the long-run what Cramer's record is nor do I care. The thing is that whatever he says is in play inevitably that afternoon and the next day. One of the best trades I ever made occurred when he recommended Steven Madden...symbol SHOO. But when he said "SHOO," the...

Yesterday, a G-20 summit took place. The G-20 is a group of nations representing about 90% of the world’s population; the leaders meet every so often (along with the president of the E.U. Commission and the chief of the UN, World Bank, and IMF). The original point of the first summit in 1999...

Stunningly, a major development which could rock the financial markets one way or another is receiving precious little press. And when does said development occur? Today. That’s right, Today. I wrote a detailed piece about the phenomenon here from March 10 so I will not repeat the text of that...

Wyckoff's "Day Trading Bible" is good too. But the Livermore and Schwager books are the ones to establish a rudimentary beginning. And Schwager has more than one of those books out there; they are all good.

The ADP came out even worse than expected; financials broke and took the broader market with it...so amending the market forecast lower needless to say...as noted yesterday, this is the least important thing to me as I simply trade what I see, but the picture originally envisioned an hour ago...

If I may self-journalize for a moment to make a point, please grant me a little slack: One of my cardinal rules for a trade is that I must be able to see a path to making at least 20 cents per share in two minutes relatively easily. For instance, if AAPL is near a high or low of day, I for one...

While I appreciate the feedback, I am not sure what gave you the thought that I send out e-mails because I do not. I simply make these daily posts here which give my bias in the early going as well as my idea list. So, I think/hope what you are looking for is found here.

This is the least important section of what I write. I actually prognosticate fairly accurately (as I did today although I had little confidence in said prediction). When I day trade, I go with what I see...I do not have a mindset. The crux of each of my pieces are the ideas because it is the...

I use both...FAZ and FAS give an idea as to how financials are doing as they move three times as fast, but I also watch JPM, WFC, BAC, and C along with MS and GS to give me an idea for how financials are doing. For tech, I track the QQQQ, but also GOOG, AMZN, AAPL, RIMM, CSCO, and MSFT. Take...

Because I type most of it out at 11:30PM and the balance at 5AM. I do the market sections in the morning as well as add to the watch list any company with major news after doing much of that the night before as well. I find that doing the posts on Microsoft Word at those times allows me...

So, let’s try to hash out what happened yesterday. I gave a brief preview in yesterday’s markets section should you want to re-read yesterday’s piece, but it comes to two old but important bugaboos: GM and the banking sector with one old theme of government intervention. Let’s do GM...

First, please if you can, try to respond to the current day's post if possible, i.e. this type question can be put on the current day's post. I don't want to clutter up Elite Trader for anyone not interested in reading these Day Trading posts...sorry for the housekeeping stuff, but again, just...

For those that really know me and have seen me trade, all of you know that I have a disciplined methodology as to when I enter a trade – something I’ve discussed in detail in this space. But, whereas I try to have entry of trades to as close a science as I can make it, exiting a trade is...

When one enters into a trade, one naturally hopes that the trade will immediately go into his/her favor. Naturally, the market does not care what anyone thinks because it is a non-living entity. And of course, stocks do not always go in one’s favor. I bring this up because so many times, I and...

Late last week, the Chinese premier Wen Jiabao made these comment at a news conference: “We have made a huge amount of loans to the United States. Of course we are concerned about the safety of our assets. To be honest, I'm a little bit worried." "I would like to call on the United States to...

I am not sure how much more detailed I could have been in my summary from providing examples to explaining how it could affect the ECN's. I certainly tried and apologize if I was not clear enough in my piece...which I obviously was not. In any case, here is the joint proposal letter from...

Before I give my normal synopsys, please read this (from Bloomberg): http://www.bloomberg.com/apps/news?pid=20601103&sid=a8d4mh.dVP_U Basically, there was a major screw-up on the close yesterday- the aforementioned article discussed the NASDAQ, but it seems to extend everywhere. Thus, the...

My average time horizon for a trade is about two minutes. So, if I think XYZ is going to go bakrupt, but it is trading at the high of the day at a price of 3, up 1 (50% gain) and I think it can go to 3.20 in the next two minutes, I'll buy 3. Same thing here; I try not to confuse trading...

In another show of resiliency, the markets rallied sharply yesterday. Over the weekend, the Obama administration provided some more much-needed details about its ‘plan.’ The centerpiece of the proposal is targeted towards toxic assets a.k.a. illiquid assets (most of which are real estate...